FEB. 22, 2001

CONTACT: Mike Stepanovich, 661/664-2456; mstepanovich@csub.edu



Kern Economic Journal: Kern one of the most affordable places to live in California

Kern County remains one of the most affordable places to live in California, according to the latest issue of the Kern Economic Journal, published by the Center for Economic Education and Research at California State University, Bakersfield.

A study by CSUB economics professor Craig Gallet rates Kern as the least expensive of 24 counties included in the survey. The average price of a single-family home in Kern County in 2000 was $108,105. By comparison, the average price for a single family home in Santa Clara County, the most expensive county in the state, was $623,924. The statewide average price for a single-family home was about $250,000.

"When comparing average home prices throughout the state, it's hard to beat Kern County," Gallet said.

Gallet also said that Kern's low housing prices are likely to serve as a magnet for businesses looking to move. "With its close proximity to high-price communities, Kern County is in an ideal position to attract those firms that have decided to relocate," he said.

The Kern Economic Journal is a quarterly publication focusing on local economic trends and developments. Grammy, chairman of CSUB's economics department, directs the Center for Economic Education and Research and is the journal's editor. Jeff Johnson, director of the Weill Institute Small Business Development Center, also serves on the journal's editorial board.

The journal provides the community with economic information produced by the center. "What we provide is local economic news," Grammy said. "This helps local business people make better decisions. We study local economic trends to determine how the local economy is progressing."

Other articles in the latest issue include a report that county businesses are less optimistic about local economic trends than they were the previous quarter, a report that indicates consumer sentiment in Kern is slipping, and a report that in contrast to state and national labor markets, college-educated full-time Hispanic males are earning more than their white counterparts. Another story reports on the impact of tourism in Kern County.

A subscription to the Kern Economic Journal costs $40 per year. For a free initial copy or more information about any of the studies published in the journal, please call the Center for Economic Education and Research at 661/664-2460. You can also visit the journal's website at www.csub.edu/kej.



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